The world's largest steelmaking coal producer
BHP Billiton Mitsubishi Alliance and Japanese steelmakers have agreed to a 12.5 percent price increase for
coking coal contracts, global press sources have said.
Prices are to rise to $225/mt for the three months starting in July, from $200/mt for the three months started April 1, representing a 75 percent rise on year-on-year basis, reports said.
JFE Holdings and Nippon steel,
Japan's two largest steelmakers, are reported to have agreed to accept the price hikes, with the companies reportedly likely to pass the rise in expenses on to steel prices.